Tombstone epitaph., 1887-12-10
EXECUTIVE DEPARTMENT, l
 ARIZONA TERRITORY,

EXECUTIVE DEPARTMENT, 1 | ARIZONA TERRITORY, !
 PRESCOTT, October I, 1887.
 SIR: have the homer to submit this, my annual report of the affairs and of the progress and development of the Terri tory of Arizona, for the year ending June 30, 1887.
 Since my last report the result has been gratifying in a high degree.
 POPULATION.
 The population of the Territory is rapidly increasing. The census of 1880 showed population of 4o,44o. Since there has been a steady addition, and now it may be fairly estimated at about oo,ooo, and constantly increasing, so that we may safely predict that the next two years will probably double it. The rich agricultural and horticultural lands are becoming so widely and so favorably known that the tide of immigration is setting in, and these lands are being set led upon by those who desire to make permanent homes for themselves and families. The abundance and cheap ness of land; the fertility and proli6cness of the soil; the great variety of products it will grow, the largeness of the yield and remuneration of prices, together with the perfection of climate, constitute sub stantial reasons for inducement of immi- grafton to Arizona.
 TAXABLE PROPERTY.
 The taxable property of the Territory is gradually increasing in value. The aggregate assessed valuation for the year 1887, is $26, I3,5oo.2I, which shows a gratifying increase in one year of nearly $6, 6,ooo,ooo, notwithstanding the fact that by the present system of assessment and taxation much of the real and personal property is undervalued, and very large proportion ofthe personal property is not listed for taxation. The last legis- tive assembly created territorial board of equalization with power to revise the assessments of the different counties, and see that all property is assessed as the law requires at its true cash value. It was given absolute jurisdiction in the as- sesment of railroad property, and direct ed to fix the values and transmit them to the respective county boards for levy and collection. This will doubtlessly, to certain extent, correct many ofthe irreg- ularities of the past, increase future revenues, and make the burden of taxa tion bear on all alike. The same legisla ture also passed funding bill by which the entire outstanding floating indebted ness of the Territory will be funded at a much lower rate of interest. The board of loan commissioners, created and auth orized to act by the provisions of this bill, have advertised for bids for the pur- chase of $2oo,ooo six per cent interest bearing bonds to run for period of twenty-five years, which, without doubt, will readily be placed at premium, and thereafter warrants, or evidences of in debtedness on the part of the Territory, bearing heavy rate of interest will absolutely be prohibited. While the territorial indebtedness is much larger than it should have been, had wisdom and economy been more closely followed, yet the revenues of the Territory, amount. ing under fair valuation to more than $3oooo,ooo, are ample to insure prompt payment of all obligations. The expen- allure for the maintenance of the terri. torial government throughthe wise action of the last legislature have decreased, and the rate of territorial taxation this year consequently has been lessened one mill. By reduced expenditures, increas- ed taxable values, and the gradual less ening of the tax rate, the Territory is now absolutely on safe and healthful basis. Hereafter the taxable values will steadily increase, and the tax rates equally as steadily decrease.
 RAILROADS.
 There are I,o5o.o4 miles of railroad in Arizona. Two great trunk lines, the Southern Pacific and the Atlantic and Pacific. traverse the Territory from east to west, the former representing 383 miles and the latter 3o2 miles. During the past year I37.S miles of the new road have been built-the Maricopa and Phenix, connecting the city of Phenix, county seat of Maricopa county, via Tempe, with the Southern Pacific road, at or near Maricopa station, 34 5; the Prescott and Arizona Central, connect ing Prescott, the capital of the Territory, with Prescott Junction, on the Atlantic and Pacific road 73. } miles, and 30 miles of the Mineral Belt road. The Prescott road is opening up the mineral ana agri- cultural regions of northern Yavapai, and the Phenix road IS giving to the farmers and horticulturalists of the Salt River valley an open market, and rapid al -.